Performance Food Group Company (NYSE:PFGC) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a bullish view: Performance Food Group has a “Moderate Buy” consensus, with 12 buy ratings and one hold among 13 analysts. The average 12-month price target is $126.90.
• Quarterly results slightly missed expectations: The company reported $1.59 in adjusted EPS versus the $1.60 consensus and revenue of $18.03 billion versus $18.11 billion expected, while revenue still grew 6.7% year over year.
• Stock and ownership metrics: PFGC opened at $98.60, compared with a 52-week range of $80.82 to $117.47. Institutional investors own 96.87% of shares, while insiders have sold about $6.02 million worth of stock over the past three months.

Shares of Performance Food Group Company (NYSE:PFGC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $126.90.

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Performance Food Group from $120.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. UBS Group lowered their price objective on shares of Performance Food Group from $132.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Weiss Ratings upgraded shares of Performance Food Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $133.00 price objective on shares of Performance Food Group in a research report on Thursday, August 13th. Finally, TD Cowen reduced their target price on shares of Performance Food Group from $128.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, August 13th.

Performance Food Group Stock Performance

Shares of NYSE:PFGC opened at $98.60 on Friday. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 43.06, a P/E/G ratio of 1.27 and a beta of 0.88. The firm's 50 day simple moving average is $109.33 and its 200 day simple moving average is $98.78. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. Performance Food Group has a fifty-two week low of $80.82 and a fifty-two week high of $117.47.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). The firm had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. Performance Food Group's quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. As a group, sell-side analysts forecast that Performance Food Group will post 5.58 earnings per share for the current year.

Insider Transactions at Performance Food Group

In other news, insider Chasity D. Grosh sold 643 shares of Performance Food Group stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $104.42, for a total value of $67,142.06. Following the sale, the insider directly owned 7,222 shares in the company, valued at $754,121.24. This trade represents a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider A. King sold 1,320 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the sale, the insider directly owned 44,216 shares in the company, valued at approximately $4,655,502.64. This represents a 2.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 57,750 shares of company stock worth $6,019,910. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Performance Food Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFGC. Cedar Mountain Advisors LLC acquired a new stake in shares of Performance Food Group in the first quarter valued at about $28,000. Asset Planning Inc bought a new stake in Performance Food Group during the first quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Performance Food Group during the second quarter valued at approximately $51,000. Lloyd Advisory Services LLC. acquired a new position in Performance Food Group during the fourth quarter valued at approximately $43,000. Finally, Transamerica Financial Advisors LLC bought a new position in Performance Food Group in the second quarter valued at approximately $54,000. 96.87% of the stock is owned by institutional investors.

About Performance Food Group

Performance Food Group Company NYSE: PFGC is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.

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